The
Egyptian poundEgyptian pound (Egyptian Arabic: جنيه مصرى‎ Genēh
Maṣri [ɡeˈneː(h) ˈmɑsˤɾi]; sign: E£, ج.م; code: EGP) is
the currency of Egypt. It is divided into 100 piastres, or ersh
(Egyptian Arabic: قرش‎ [ʔeɾʃ]; plural قروش
[ʔʊˈɾuːʃ]),[1] or 1,000 milliemes (Egyptian Arabic: مليم‎
[mælˈliːm]; French: millième).
The
Egyptian poundEgyptian pound is frequently abbreviated as LE or L.E., which
stands for livre égyptienne (French for Egyptian pound). E£ and £E
are commonly used on the internet. The name Genēh [ɡeˈneː(h)] is
derived from the Guinea coin, which had almost the same value of 100
piastres at the end of the 19th century.

In 1834, a khedival decree was issued, adopting an Egyptian currency
based on a bimetallic standard (gold and silver) on the basis of the
Maria Theresa thaler, a popular trade coin in the region.[3] The
Egyptian pound, known as the geneih, was introduced, replacing the
Egyptian piastre (ersh) as the chief unit of currency. The piastre
continued to circulate as ​1⁄100 of a pound, with the piastre
subdivided into 40 para. In 1885, the para ceased to be issued, and
the piastre was divided into tenths (عشر القرش 'oshr el-ersh).
These tenths were renamed milliemes (malleem) in 1916.
The legal exchange rates were fixed by force of law for important
foreign currencies which became acceptable in the settlement of
internal transactions. Eventually this led to
EgyptEgypt using a de facto
gold standard between 1885 and 1914, with E£1 = 7.4375 grams
pure gold. At the outbreak of World War I, the
Egyptian poundEgyptian pound was
pegged to the British pound sterling at EG£0.975 per GB£1.
EgyptEgypt remained part of the
Sterling Area until 1962, when Egypt
devalued slightly and switched to a peg to the United States dollar,
at a rate of EG£1 = US$2.3. This peg was changed to 1 pound = 2.55555
dollars in 1973 when the dollar was devalued. The pound was itself
devalued in 1978 to a peg of 1 pound = 1.42857 dollars (1 dollar = 0.7
pound). The pound floated in 1989. However, until 2001, the float was
tightly managed by the Central Bank of
EgyptEgypt and foreign exchange
controls were in effect. The Central Bank of
EgyptEgypt voted to end the
managed-float regime and allowed the pound to float freely on 3
November 2016;[4] the bank also announced an end to foreign exchange
controls that day.[5] The official rate fell twofold.
The
Egyptian poundEgyptian pound was also used in Anglo-Egyptian
SudanSudan between 1899
and 1956, and
CyrenaicaCyrenaica when it was under British occupation and later
an independent emirate between 1942 and 1951. The National Bank of
EgyptEgypt issued banknotes for the first time on 3 April 1899. The Central
Bank of
EgyptEgypt and the National Bank of
EgyptEgypt were unified into the
Central Bank of
EgyptEgypt in 1961.
Popular denominations and nomenclature[edit]
Used for historical values or jocularly[edit]
Several unofficial popular names are used to refer to different values
of Egyptian currency. These include (from the word nickel) nekla
(نكلة) [ˈneklæ] for 2 milliemes, ta'rifa (تعريفة)
[tæʕˈɾiːfæ] for 5 milliemes, shelen (شلن) [ˈʃelen] (i.e. a
shilling) for 5 piastres, bariza (بريزة) [bæˈɾiːzæ] for 10
piastres, and reyal (ريال) [ɾeˈjæːl] ("real") for 20 piastres.
Since the piastre and millieme are no longer legal tender, the
smallest denomination currently minted being the 25-piastre coin
(functioning as one-quarter of one pound), these terms have mostly
fallen into disuse and survive as curios. A few have survived to refer
to pounds: bariza now refers to a ten-pound note and reyal can be used
in reference to a 20-pound note.
Informal[edit]
Different sums of EGP have special nicknames, for example: 1,000 EGP
baku (باكو) [ˈbæːku] "pack"; 1,000,000 EGP arnab (أرنب)
[ˈʔæɾnæb] "rabbit"; 1,000,000,000 EGP feel (فيل) [fiːl]
"elephant".
Coins[edit]
Between 1837 and 1900, copper 1 and 5 para, silver 10 and 20 para, 1,
5, 10 and 20 piastre, gold 5, 10 and 20 piastre and 1 pound coins
were introduced, with gold 50 piastre coins following in 1839. (1para
= ​1⁄40 Piastre).
CopperCopper 10 para coins were introduced in 1853, although the silver coin
continued to be issued.
CopperCopper 10 para coins were again introduced in
1862, followed by copper 4 para and 2​1⁄2 piastre coins in 1863.
GoldGold 25 piastre coins were introduced in 1867.
In 1885, a new coinage was introduced consisting of bronze ​1⁄4,
​1⁄2, 1, 2 and 5 millieme, silver 1, 2, 5, 10 and 20 piastre
coins. The gold coinage practically ceased, with only small numbers of
5 and 10 piastre coins issued.
In 1916 and 1917, a new base metal coinage was introduced consisting
of bronze ​1⁄2 millieme and holed, cupro-nickel 1, 2, 5 and 10
millieme coins.
SilverSilver 2, 5, 10 and 20 piastre coins continued to be
issued, and a gold 1 pound coin was reintroduced. Between 1922
and 1923, the gold coinage was extended to include 20 and 50 piastre
and 1 and 5 pound coins. In 1924, bronze replaced cupro-nickel in
the 1 millieme coin and the holes were removed from the other
cupro-nickel coins. In 1938, bronze 5 and 10 millieme coins were
introduced, followed in 1944 by silver, hexagonal 2 piastre coins.
Between 1954 and 1956, a new coinage was introduced, consisting of
aluminium-bronze 1, 5 and 10 millieme and silver 5, 10 and 20 piastre
coins, with the size of the silver coinage significantly reduced. An
aluminium-bronze 2 millieme coin was introduced in 1962. In 1967 the
silver coinage was abandoned and cupro-nickel 5 and 10 piastre coins
were introduced.
Aluminium replaced aluminium-bronze in the 1, 5 and 10 millieme coins
in 1972, followed by brass in the 5 and 10 millieme coins in 1973.
Aluminium-bronze 2 piastre and cupro-nickel 20 piastre coins were
introduced in 1980, followed by aluminium-bronze 1 and 5 piastre coins
in 1984. In 1992, brass 5 and 10 piastre coins were introduced,
followed by holed, cupro-nickel 25 piastre coins in 1993. The size of
5 piastre coins was reduced in 2004, 10 and 25 piastre coins - in
2008.
On June 1, 2006, 50 piastre and 1 pound coins dated 2005 were
introduced, and the equivalent banknotes were phased out and
completely disappeared from circulation in 2010. The coins bear the
face of
Cleopatra VIICleopatra VII and Tutankhamun's mask, and the 1 pound
coin is bimetallic. The size and composition of 50 piastre coins was
reduced in 2007.

* Not in circulation as of 2008.
** As to commemorate the branching of the Suez canal, the obverse had
the
ArabicArabic phrase, قناة السويس الجديدة "New Suez
Canal".
Banknotes[edit]
In 1899, the National Bank of
EgyptEgypt introduced notes in denominations
of 50 piastres, £1, £5, £10, £50 and £100 were introduced.
Between 1916 and 1917, 25 piastre notes were added, together with
government currency notes for 5 and 10 piastres. Issued
intermittently, the 5 and 10 piastres are today produced by the
Ministry of Finance.
In 1961, the Central Bank of
EgyptEgypt took over from the National Bank
and issued notes in denominations of 25 and 50 piastres, £1, £5,
£10 and £20 notes were introduced in 1976, followed by £100 in
1978, £50 in 1993 and £200 in 2007.[7]
All Egyptian banknotes are bilingual, with
ArabicArabic texts and
Arabic-Indic numeralsArabic-Indic numerals on the obverse, and English texts and Arabic
numerals on the reverse. Obverse designs tend to feature an Islamic
building with reverse designs featuring Ancient Egyptian motifs
(buildings, statues and inscriptions). During December 2006, it was
mentioned in articles in Al Ahram and Al Akhbar newspapers that there
were plans to introduce £200 and £500 notes. As of 2015, there are
£200 notes circulating but there are still no plans for making £500
notes.[8] Starting from 2011 the 25, 50 piastres and £1 banknotes
have been phased out and replaced by more extensive use of coins. As
of June 2016 the National Bank of
EgyptEgypt reintroduced the £1 banknote
into circulation[9] as well as the 25 and 50 piastres notes.

Current series of the Egyptian pound

Image
Value
Dimensions (millimeters)
Main color
Description
Year of first issue